How to sell your house and move with a blended family

In recent years, shows like Modern Family and The Fosters have brought public attention to the concept of ‘blended families.’ A blended family is when two partners make a life together with children from one or both of the two’s previous marriages. This is also sometimes referred to as a step-family. According to Dr. Jeannette Lofas, president and founder of The Stepfamily Foundation, “Today, 60 percent of families live in some form of divorced or stepfamily relationship.” One notable feature of blended families typically is the lack of marital status. Buying and selling  homes as a family is complicated enough. However, buying and selling a home as partners instead of spouses adds another set of hoops to jump through. To ensure your families merge together smoothly, consider these tips when selling your house and moving in together.

 

 

Getting the title

 

Couples that are married typically hold house titles as ‘joint tenants.’ For unmarried couples living together however, the process is a bit more complicated. For unmarried couples there are actually three different ways to secure a house title. First, they can get it under a joint tenancy whereby each party owns an equal portion of the property they’re purchasing together. Under this, when one owner the other gets full ownership of the home. 

 

Another option is getting the title under what’s called ‘tenancy in common.’ This method allows multiple buyers to own the home together but allows either party to sell their interest or pass it on to a beneficiary when they die.

 

The third option is to obtain the title under a living trust. Trusts are used to securely pass down assets to beneficiaries. Trusts allow whoever controls the trust, the trustees, to directly dictate what happens to their stake in the property after their passing. Additionally beneficial for unmarried couples is that trusts stand up much better in court should ownership be challenged. Trusts, legally speaking, are considered rock solid. 

 

Arranging your title as a blended family is important in both the buying and selling process. In some instances, one party may want to move while another wants to retain their interest in the property. Consult a lawyer when moving as a blended family to look over your options. 

 

 

Pick the right location

 

 

 

If you’re moving in as a blended family in a new location, there’s a good chance you’re going to be selling two separate homes. It’s possible then that you’ll be selling in two different markets which can be complicated depending on the state of the markets. Give yourselves plenty of time and plan accordingly. Picking a location depends on a variety of different factors. Especially if there are children involved, schools are a major deciding factor for families, blended or otherwise. 

 

If only one family intends to move, if there are young children in the mix, experts recommend that the family with the younger children makes the move. Part of this is also related to school systems. Ideally the goal is to ensure that all the kids can be in the same school system. When changing neighborhoods to merge families, typically the kids that have to give up their school and neighborhood friends feel most slighted. When picking a location, also keep in mind the proximity to the children’s biological parents. Depending on the arrangement, you’ll still want to make moving back and forth between parents’ easy and not too disruptive. 

In some instances you may need to hold onto one of the properties longer than anticipated. Consider renting out one house temporarily. Another option is to sell your house to a wholesaler and receive an instant cash offer for your home.

 

 

Make sure all your finances are in order

 

 

Merging families can be a tricky process financially. In many cases you’ll be splitting budgets which in theory could double your total budget. However, there are numerous things to consider when creating a blended family. First thing, before looking at homes together, make sure everything from your divorce process is finalized. You will not be able to get a loan without a divorce decree. You should also take care of any real estate matters from prior marriages before you start looking at houses.

 

Additionally, both parties will want to fully disclose financial situations. It’s possible one side is bringing more to the table than the other. Consider what your retirement plans are and what your funds for retirement look like and budget accordingly.

 

 

Bond as a family

 

 

 

Lastly, when moving in as a blended family, above all else, make sure you spend quality time together beforehand. Especially when children are involved, blending families can be an overwhelming process. Psychologists specializing in stepfamily relations recommend allowing the kids to actively be involved in decorating of the new house, enabling them to feel at home. Even if everyone gets along at the time of the move, the process as a whole can be overwhelming for children. Also be sure to allow children to have time alone with their biological parents. Do things together to bond your newly forged family unit to make everyone feel welcome.

 

Selling a home and moving in with a blended family sounds complicated, but with careful planning and attending to each individual’s needs throughout the process, it can be incredibly rewarding. Be well prepared for the entire process from selling your home to buying a new one with the proper title.

The post How to sell your house and move with a blended family appeared first on National Cash Offer.

source https://nationalcashoffer.com/how-to-sell-your-house-and-move-with-a-blended-family/

How Long Does it take to Sell a House?

Selling your home is a busy and tiring process. Depending on the market it may take weeks to months to sell your home. There are a number of factors that determine how long a house sits on the market. As such it’s important to take all necessary steps before listing your home. From there, you may still be asking, “how can I sell my house fast?” The answer to that question depends largely on five different variables; your asking price, the condition of your home, the lot and location, the current market conditions, and seasonality. Keep all of these in mind when selling your house as they each play a role in determining how long your house is on the market.

 

 

Is your asking price reasonable?

 

Your home’s asking price is the most important factor in selling your home in a timely manner. Homes that are priced appropriately and fairly will sell quicker regardless of the home’s condition Homes that are overpriced on the other hand will sit on the market longer. Even in a great location homes can still sit on the market for a long time if the price is too steep. Pay attention to recently sold properties in your neighborhood to gauge what your asking price should be. Also consider getting a good appraisal. 

 

In the event your asking price is too high, there are a couple solutions. For a start, you can simply lower your asking price to something more reasonable within the market. Second, if you don’t want to lower your asking price, you can temporarily take your home off the market and prove the condition of your home and then wait for better market conditions to relist your house. Another solution is to simply accept an offer that is lower than your current asking price. 

 

If you really want to sell your house fast, you can get a cash offer from a wholesaler and sell it directly to them. 

 

The condition of your home

 

 

The condition of your home is less relevant to how quickly your home will sell, but it’s still worth paying attention to. Depending on the conditions of the market you’re selling in, and attractively priced fixer upper home can sell much faster than an overpriced home in good condition. However, in other markets those same homes may sit for quite a while. 

 

One thing the National Association of Realtors recommends as a way to remedy this problem is to stage your home. Buyer’s going through houses want to envision themselves in your house. Staging your home, clearing it of clutter and personal belongings make your home more attractive to potential buyers and allows them to envision it as their house. According to Mortgage Reports, staging your home can help it sell 73% faster on average.

 

Location, location, location

 

Where you house is located is not the most important part as far as selling your house quickly, but it can certainly be a factor. In general, people move for reasons related to work or to find better schools for their kids. All buyers are different and will be looking for different nearby amenities, keep that in mind when marketing your house. This ultimately relays back to proper asking prices. Your location may be a high value market in which case you adjust your asking price accordingly. Look at recently sold homes in your area and consult your realtor to produce a fair asking price. 

 

Conditions of the Real Estate Market

 

 

The real estate market constantly changing and can be unpredictable. Selling in a hot market is preferable to selling in a cold market. Hot markets are more beneficial to sellers as they are marked by high demand and low supply along with higher prices and more bidding wars. By contrast a cold market is is more favorable to the buyer and is marked by low demand and high supply. 

 

If you’re selling in a cold market, then you may find yourself needing to reduce your asking price or accept an offer below your asking price. You may also need to make several concessions on behalf of the buyer. A cold market will likely mean your home will take longer to sell. One way to gauge the temperature of the market is the ‘days on the market’ metric or DOM. This measure the average number of days that a home is actively on the market before a seller accepts and offer. 

 

Seasonal market fluctuations

 

Depending on the season, you may have an easier or harder time selling. In some markets, winter and spring may be an optimal time to sell as buyers will want to avoid moving during the blistering heat of the summer months. However, in other markets, summer is a more ideal time to sell because buyers won’t want to move during the harsh cold winters and have to deal with shorter days. Put simply, the best season to sell in Arizona is going to be different from the best season to sell in Michigan.

The post How Long Does it take to Sell a House? appeared first on National Cash Offer.

source https://nationalcashoffer.com/how-long-does-it-take-to-sell-house/

How to Write an Offer Letter For a House

One of the most important steps in buying a home is writing an offer letter to the seller. This entails writing a letter to tell the seller why you want to buy the house and giving the seller details regarding your mortgage, expected closing date, and more.

 

It’s important to put time and effort into your offer letter as it is your chance to stand out amongst other bidders. This is particularly important if you are in the middle of a bidding war with other interested buyers.

 

Often, the key to making a winning bid is to attach a personal letter to your offer to help win over the seller. Keep reading to learn five tips on how to write an effective offer letter for a house.

 

Be Personal

 

Sellers are often emotionally attached to their homes. As a result, they want to be sure the new homeowners will take good care of their property.

 

Start by addressing your letter directly to the seller. Try to figure out something you have in common with the seller or something in particular that you liked about the house and open your letter by talking about that.

 

Being personable in your offer letter is a great way to build rapport with the seller and make yourself stand out from other buyers.

 

Keep it Brief

 

Reviewing offers as a seller is often a very long and tiring process. Depending on how many potential buyers there are, the seller may have to spend hours reading multiple offer letters.

 

As such, it’s important to keep your letter relatively short and to be concise in your writing. A few paragraphs should be enough to convey your message and to make a compelling case for yourself.

 

Explain What You Like About the House

 

Your offer letter is your chance to explain exactly what you like about the house and why you want to purchase it. Do you love the kitchen? Do you like the color of the house? Is the outdoor area perfect for you and your family?

 

It’s important to be complimentary as many homeowners take pride in their homes and have put in great effort to keep their homes in great shape.

 

Let the Seller Know You’re Serious

 

One of the biggest concerns for sellers is having to deal with buyers that aren’t serious. If you are set on purchasing a certain home, make it clear to the seller that you are committed to completing the transaction as quickly as possible.

 

It’s important to make sure that the seller knows you won’t back out at the last second or extend the closing process any longer than is necessary.

 

Close the Letter Properly

 

Lastly, be sure to close your letter appropriately. Reaffirm your interest in buying the home and thank the seller for taking the time to consider your offer. Be concise but be sure to express your interest and appreciation.

 

Final Thoughts

 

Writing an effective offer letter is a crucial step in the home buying process. Your offer letter is your chance to express your interest in the house. It’s also an opportunity to explain why the seller should choose you over other buyers.

 

By following these tips, you can construct an effective offer letter when buying a new home.

The post How to Write an Offer Letter For a House appeared first on National Cash Offer.

source https://nationalcashoffer.com/how-to-write-an-offer-letter-for-a-house-2/

Tips for Finding the Best Mortgage Lenders

When buying a home you want to find the best loan with the best interest rate. In order to secure that, you’ll need to find the right lender. Never settle for the first interest rate you receive. Carefully research different lenders and apply to several. From there you will be able to find the best mortgage lenders and get the best rates. 

 

 

Explore all your options

 

According to the Consumer Financial Protection Bureau, nearly half of all home buyers take the first loan they get without shopping around for others. Different lenders have different policies which means your loan terms and interest rates will vary from lender to lender. The difference between a 0.5% interest rate and a 1% interest rate can be tens of thousands of dollars in interest payments. For that reason home buyers should always apply to multiple lenders to get the best interest rate.

 

Ask friends and family for recommendations

 

A trusted lender is the key to finding the right loan terms for the right home. A lender can help make your buying experience smooth and seamless. Sometimes the best way to find a trustworthy lender is to ask friends and family for recommendations. If you have friends with similar financial situations as you, you’ll want to ask about the specific terms they were able to negotiate so that you can try to negotiate similar ones. 

 

Consider working with a mortgage broker

 

One method to securing the best mortgage terms is by working with a mortgage broker. Brokers serve as middlemen between buyers and lenders and advocate on behalf of the buyer to negotiate the best terms. Brokers do charge fees, however, if you don’t mind paying them, and don’t want to spend all that extra time negotiating with lenders. Using a broker can help you navigate all the fine print during the application process. Like with lenders, it’s important to also screen and vet brokers before picking one to work with. 

 

Determine what type of  lender is best for you

 

 

Nowadays borrows have more options than ever. Not only do have to consider what lender is best for you, you also get to consider which type of lender is best. Borrows can choose from going with a local bank, a big bank, an online lender, or a credit union when applying for a mortgage loan. Each has pros and cons, knowing which one is best suited for your situation will streamline your loan application process. For example, local banks typically offer the same kind of loans as larger banks, however they provide more personalized assistance. Online lenders have become very popular in recent years. Online lenders such as Lending Tree and Quicken Loans have dominated the online mortgage market. Decisions at local banks are made in-house which can help expedite your application process. However, they sometimes also offer fewer options due to a lack of resources compared to larger banks. Research each type carefully and make your decision.

 

Arrive to the negotiation prepared

 

Like with anything, the more prepared you are going into it, the better you’ll fare. One tool at your disposal is a lender’s online quote. Familiarize yourself with the terms of their online quote and bring it with you to negotiate. Compare their online quote with what they quote you in person, it can be potentially be used as leverage. Be sure to ask what kind of lenders fees they levy, what their application turnaround time is, what their down payment requirements are etc. Applying for loans can be a grueling process, but the better prepared you are, the higher the chance it will work out in your favor. 

The post Tips for Finding the Best Mortgage Lenders appeared first on National Cash Offer.

source https://nationalcashoffer.com/tips-for-finding-the-best-mortgage-lenders/

Advantages of Getting Pre-Approved for a Mortgage Before Buying

If you’re seriously considering buying a home, the first thing you should do is get pre-approved for a mortgage loan. Before you hop on Trulia or Zillow or even drive by a house, make sure you get pre-approved for a mortgage. While getting pre-approved for a mortgage may seem like a daunting task, putting it off can lead to costly problems down the road.

 

 

Difference Between pre-Approved and pre-Qualified

 

To begin, it’s important to also understand the difference between being pre-approved and pre-qualified. Getting pre-qualified helps borrows see how much they might be qualified to borrow. Pre-qualification is based on information the borrow provides to the lenders and a soft credit check.

 

By contrast, a pre-approval is determined after the completion of an extensive review of the borrower’s financial history and a hard credit check. The assembling of financial records is often what scares people about the process and why many put it off. However, if you’re worried about the state of your finances, getting pre-approved can actually help you out.

The paper work submitted to lenders gives a very clear picture of your financial situation. As such, any problems can be easily identified and your lender can give you advice on how best to rectify them.

 

Pre-Approval Sets your Price Range

 

 

Often people looking to buy a house get lost in prices. Knowing what you can afford is important to know ahead of time. Getting pre-approved determines you price range. Different lenders have different policies which will lead to varying approval numbers. For that reason, it’s good to apply to multiple lenders and go with the best number. Once you have your number, then you can begin looking for home sin your price range. Think of your pre-approval amount as your maximum price. Nothing is worse than shopping for houses and falling in love with a property, only to discover it’s way out of your range.

 

Getting pre-approved speeds up the buying process

 

One advantage to getting pre-approved early in the process, is that it speeds up the remaining parts of the process. If a buyer is looking in a hyper competitive market, they’ll need to be able to produce an offer right away after looking at a property. Not being pre-approved beforehand could delay your ability to make offer, causing you to miss out on your dream home.

 

Having a pre-approval makes your offer stronger as it establishes you as a serious home buyer. For properties with multiple offers, those with pre-approval will be given priority. Given the amount of paperwork, getting pre-approved is a complicated process that takes time. That’s another reason why it’s best to get pre-approved right away rather than wait.

 

Getting pre-approved for a mortgages 

Once you make the decision to begin looking for homes, getting pre-approved requires a lot of paperwork. The documents that must be submitted to your lender include: 30 days worth of pay stubs, two years of W-2s or tax returns, and quarterly account statements for all your assets. From there you’ll need to request your credit report. Before submitting everything, look over your credit report and make sure everything checks out. After that, go over your budget and determine what you can afford as far as monthly mortgage payments go. From there, shop around for lenders. Ask your friends and neighbors who they went with. Take your time and apply to multiple lenders to ensure you’re getting the lest loan.

The post Advantages of Getting Pre-Approved for a Mortgage Before Buying appeared first on National Cash Offer.

source https://nationalcashoffer.com/getting-pre-approved-for-a-mortgage/

What to Consider When Negotiating a Price For a Home

Unlike most things you buy in life, the price of a home is negotiable. In fact, it’s expected that you’ll negotiate the price, especially in a competitive market. This is a great way to get a good deal on the property, and many homeowners are open to some wiggle room in pricing.

 

However, you can’t just call out any number that fits your budget. There are things you need to consider when negotiating a price for a home to buy. Not only do you need to be reasonable and strategic with your home negotiations, but you also need to consider a number of factors. This guide will help you get started.

 

 

1. The Listing Price

The first thing to pay attention to is the listing price. This is obviously the most important thing to consider when negotiating a price for a home. Why? Because this is the suggestion for what the seller is hoping to make on the property.

 

While it’s true the listing price is often negotiable, you need to realize that the seller wants to make a profit. If the owner is selling their home before fully paying off their mortgage, they’ll need to pay the difference on any remaining balance.  It’s a good idea to base your home negotiations around the listing price if you want to see good results.

 

2. Your Schedule

Another important factor to consider is actually your schedule. Many buyers are on a strict schedule. Perhaps they have a new job starting soon or they’re relocating. All of these things put pressure on the home seller.

 

If you have flexibility in your schedule, this is something you should make clear during negotiations. Flexibility might make homeowners more willing to work with you on your offer, especially if it means they can better fit their moving date to their own schedule.

 

3. Closing Costs

You don’t have to negotiate the price of the home alone. It’s also common to include the closing costs within your negotiations, so this is another important factor.

 

Closing costs are the fees that are incurred during the transaction. The average closing costs are usually around 1-2% of the home price. They quickly add up, especially for more expensive properties. You might consider negotiating for the seller to cover a certain percentage (or all) of the closing costs.

 

4. Other Offers

When negotiating, you’ll likely have other offers on the table to compete with. With the average home on the market for 69 days, it’s no wonder you might not be the only one to place a bid on a property.

 

Learning as much as you can about the other offers will help you with your own negotiations. You never want to walk into a bid blind. Your broker can help determine whether there are existing offers on the table, and this will help you better understand how to negotiate.

 

5. Home Inspection

Finally, the last thing to consider when negotiating a price for a home is the house inspection. Taking the time to go through the inspection process slowly can work in your favor. This will help you determine just how much negotiation you can get away with.

 

For example, if a home comes back with a perfect record after an examination, there isn’t much room to negotiate. However, if extensive repairs are needed, you’re now in a much better position to land a deal on the property.

 

Are You Ready for Home Negotiations?

When it comes to getting a good deal on a property, it pays to be prepared. Knowing how to negotiate the price of a home down to the best deal takes time. It also relies on knowing the right factors to consider.

 

After reading this guide, you’re ready to begin the negotiation process for the home of your dreams. As long as you’re realistic, you stand a strong chance of snagging that property.

The post What to Consider When Negotiating a Price For a Home appeared first on National Cash Offer.

source https://nationalcashoffer.com/what-to-consider-when-negotiating-a-price-for-a-home/

Best Neighborhoods to Trick or Treat in Phoenix

Halloween is upon is. Phoenix routinely ranks as one of the best cities in the country. As such, it’s home to some of the best neighborhoods for trick-or-treating. If you have kids, or want to feel like a kid yourself then make sure to find the best place to hit up and secure the candy bag and trick or treat in Phoenix.

 

McCormick Ranch

 

You won’t find the most elaborate decorations in McCormick Ranch (or any), if you want to trick or treat in a safe neighborhood with an abundance of treats, you definitely want to voyage over to McCormick Ranch in Scottsdale. It won’t be the spookiest area in the Valley, but if you want your kids to have a successful night when when you weigh your candy haul at the end of the night, this is the spot.

 

Paradise Valley

 

Known for its sprawling palatial homes and gated communities, there’s perhaps no safer place for kids to go candy collecting. Paradise Valley has very little traffic so you won’t have to worry about busy streets. Homes in this neighborhood are positioned closely together, making for an easy way to hit up a lot of houses in a short period of time. If you want some classic door to door trick-or-treating you can’t go wrong with Paradise Valley. 

 

Encanto

 

Not many neighborhoods in the Valley go as big for Halloween as Encanto. By October 1st nearly the whole neighborhood is decked out for spook season and it’s rare to find a single home in the area without at least a carved pumpkin on display. With tons of Halloween related festivities going on all throughout the area, Encanto is easily one of the best spots to haul in tons of sugary treats. That, along with its proximity to the Phoenix Country Club and the upper crust of the town, it’s likely you’ll stumble upon plenty of king size bars being passed out. 

 

Deer Valley

 

The trick-or-treating scene in Deer Valley is a complete throwback to a bygone era. Deer Valley trick-or-treating is as family friendly as it gets with a 1950s feel when doors were left wide open and children frolicked in the streets. Halloween in DV is as old school as it gets. Perfect for parents with young children. 

 

Buckeye

 

Buckeye was the fastest growing city in the country last year and it isn’t slowing down. New families are moving to Buckeye in droves. With new blossoming neighborhoods, Halloween is a perfect time to get to know people in your area. If you’re a parent, trick-or-treating is great for meeting neighbors and for your kids to meet other kids. For new families moving in, trick-or-treating is a perfect way to get acclimated into the

The post Best Neighborhoods to Trick or Treat in Phoenix appeared first on National Cash Offer.

source https://nationalcashoffer.com/best-neighborhoods-trick-or-treat-phoenix/